Bitcoin (BTC) extended its gains Monday and hit a new milestone, breaking past $120,000, Dylan Butts of CNBC reports. “We believe that Bitcoin’s surge is driven by longer-term institutional buyers and this will propel it to $125k in the next month or two,” Jeff Mei, chief operating officer at cryptocurrency exchange BTSE, said in a statement to CNBC. “Trump’s trade disputes with the likes of the EU, Mexico, and other trading partners could cause dips in the week ahead, but it’s likely that Bitcoin’s institutional buyers are discounting this risk and maintaining their positions that Bitcoin will still appreciate in the long run.” Publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Strategy (MSTR), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSTR:
- Strategy Expands Bitcoin Holdings with Recent Share Sales
- Strategy’s Stock Soars: Crypto Moves Pay Off
- Block, McDonald’s, Strategy, Oracle, and Palo Alto Networks: Executive Stock Moves Unveiled!
- Video: Bitcoin hits all-time high in big week for crypto
- Strategy rallies as bitcoin hits new high above $118,000